How much interest would you pay if... (finance homework help)

Posted on 2014-03-31 06:42:00 in Finance by LAUREN

Q: How much interest would you pay if you bought a car for $55,000 that was fully financed with a 3.6% auto loan that lasted 6 years (assuming that you make payments annually



A: $7,134 --- This is the correct answer, but I don't know how to get there. Can someone show me the steps to getting it? Thanks!

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